Telkom\u2019s future is still up in the air after a cabinet spokesperson admitted that the telecommunication firm has not yet been discussed by the most senior level of government.<\/p>\n
More than a month has passed since the original deadline for the Department of Communications (DoC<\/a>)\u00a0to present a list of options concerning Telkom\u2019s future to cabinet.<\/p>\n Having blocked a deal between Telkom and Korea based\u00a0KT Corp<\/a>\u00a0in June, cabinet asked the minister of communications,\u00a0Dina Pule<\/a>, to report back to it about all the options that were available for Telkom, in three months.<\/p>\n Last month, the DoC confirmed that a shortlist of three strategic options for Telkom had been presented to cabinet on Wednesday (19 September).<\/p>\n In the statement, the DoC said that Pule and the Inter-Minesterial committee have worked \u201cvery hard\u201d with government officials to distill the list of options down to three.<\/p>\n However, cabinet said it did not discuss\u00a0Telkom<\/a>\u2019s fate at that meeting on the 19th.<\/p>\n Cabinet spokesperson, Phumla Williams\u00a0told BusinessTech on Friday (5 October) that, to date, options surrounding Telkom\u2019s future have not yet been tabled before cabinet.<\/p>\n \u201cPhone me after Wednesday (10 October – the next scheduled cabinet meeting), maybe something will come up at the meeting,\u201d Williams said.<\/p>\n Last month, Telkom\u00a0advised that its headline earnings per share from continuing operations for the six months ending September 2012 was expected to be at least 65% lower than the prior comparative period.<\/p>\n HEPS from continuing operations for the six months ended September 2011 stood at 191.7 cents, 35.5% lower than in 2010.<\/p>\n Government owns 38.9% of Telkom \u2014 51% if the Public Investment Corporation\u2019s (PIC<\/a>) stake is included.<\/p>\n Related article<\/strong><\/p>\n Telkom future in cabinet hands<\/strong><\/a><\/p>\n Telkom options not tabled before Cabinet<\/strong><\/a><\/p>\n Telkom shares off 5.3%, awaits fate<\/strong><\/a><\/p>\n Telkom delivers earnings warning<\/strong><\/a><\/p>\n Telkom rallies 5% on nationalisation rumour<\/strong><\/a><\/p>\n Telkom to be sold at R24 a share, nationalised: analyst<\/strong><\/a><\/p>\n